Golden Rim Resources : Amended, Drilling Commences at Babonga, Burkina Faso

ASX Announcement

19 January 2017

Amended: Drilling Commences at Babonga, Burkina Faso

Golden Rim Resources Ltd (Golden Rim, ASX: GMR) today announced that it has commenced a small air core drilling program on its 100% owned Babonga licence in Burkina Faso.

Babonga has a highly coherent gold-in-soil anomaly approximately 2.1km long and 300m wide, which was defined in the southern part of the permit (Figure 1). The anomaly is coincident with a major regional structure. The anomaly has soil sample values up to 270 ppb gold, strikes NE to N and is open to the south.

The air core drilling program will consist of 5 lines of drilling (for ~39 holes) across the best areas of the soil anomaly and is expected to take approximately 10 days to complete (Figure 2).

Golden Rim's Managing Director, Craig Mackay, said "The air core drilling is a low cost but effective way to test the significant gold-in-soil anomaly at Babonga."

"The program will allow us to meet government expenditure commitments to keep the licence in good standing and potentially add value, while the Company undertakes discussions with potential partners to fund work programs moving forward for our three Burkina Faso gold projects, Korongou, Babonga and Yako."

"The Company's primary focus is the development of the Paguanta zinc-silver-lead project in Chile, where diamond drilling is underway and progressing well", said Mr Mackay.

-ENDS-

For further information, please contact:

Hayley Butcher

Golden Rim Resources

General Manager, Corporate and Company Secretary

[phone]

Golden Rim Resources Ltd I ABN 39 006 710 774 I Office 7, Level 2, 609 Canterbury Road, Surrey Hills VIC 3127, Australia

www.goldenrim.com.au I [e-mail] I T + 61 3 9836 4146

Figure 1. Gold-in-soil anomaly at Babonga. Figure 2. First air core hole at Babonga. Competent Persons Statement

The information in this public report that relates to exploration results and mineral resources is based on information compiled by Mr Craig Mackay who is a member of The Australasian Institute of Mining and Metallurgy. Mr Mackay is an employee of Golden Rim Resources Ltd. Mr Mackay has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Mackay consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

Certain statements in this document are or maybe "forward-looking statements" and represent Golden Rim's intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Golden Rim, and which may cause Golden Rim's actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Golden Rim does not make any representation or warranty as to the accuracy of such statements or assumptions.

Further Company Information

E: [e-mail] W: goldenrim.com.au

Capital Structure:

Issued Shares: 1,787,820,000

Unlisted Options: 172,382,500

Share Registry:

Link Market Services Limited Central Park Level 4

152 St Georges Terrace Perth WA 6000

Telephone: [phone]

Fax: [phone]